The company attributed the 30% drop in second-quarter profit to acquisition-tied charges. Adjusted earnings rose from a year ago beating expectations. Revenues for the quarter increased 55%, boosted by sales from the recent acquisition Organon BioSciences and a favorable currency rate. The company’s Productivity Transformation Program started in April 2008 is expected to realize savings of 10% or $1.5 billion of its 2007 cost base by the end of 2012.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites.
Market data: BATS Exchange. Inc.
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